Layoffs, reductions, outsourcing to third-party companies, constant restructuring….. All of that for what? Did any of these changes have any positive effects on the company? Did the leadership manage, with these changes, to reduce the company's debt, which is the biggest threat to the very existence of the company? For me it seems that all of this was for nothing.
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Remember, the CFO under McElfresh, Dan Fete, wants to get 10% of expenses out of the business to improve profit, share price and to be used to reduce debt. The debt was mainly for DTV and TWX, two stupid deals by a stupid management team headed by Stephenson and Stankey.
Whats the point of bringing it down when dumb and dumber up top will buy the first shinny t–d they see on the street.
as long as everyone gets their bonus its all good
@11jOIfXU-ptp Forget it... most of these id–ts don’t know basic economics and finance.
In the short term it does look good on the spreadsheets. In the long term when the vendors have all the intellectual capital they will raise their prices.
nope!, is just how dysfunctional companies operate, & lots of hope Wall street
Is this a serious question? Eliminating salaries/wages, taxes, and benefits (including pension obligations) enables the company to contribute more cash towards debt reduction.
I've been working a lot harder and getting 3 jobs a day instead of 2 so yeah, we should be debt free in a few weeks now.
Yes. The debt is lower.
OP, actually in a word, Yes. Backup to last July 26 and the 10K report, T’s debt was reduced to ~162b, down from $181b and their projection is to bring the debt below $150b by EOY.
Now the breakdown on what was used to create that figure isn’t exactly clear. Surpluses go a long way I’m sure, plus the selling of property/buildings, and most likely your familiar with "Collaboration Zones?" Many were herded from smaller buildings to fill bigger ones and Dallas tried to make you feel good about the "logic" of open air seating!
At the end of this quarter (which was yesterday) you will probably see the results from Outsourcing that has been going on, and count on the 4th quarter to continue that trend....outsourcing with no severance....a ‘win, win’ for T.
I’m sure that other creative methods are in the works but that’s how I see it.
Incompetence, Egos, Hubris, and no ability to compete. How Stevenson and Stankey have stayed around is just gross negligence by a Board that is out of touch.